Single-Trip or Multi-Trip Annual Insurance Plans: Comparing Travel Insurance Plans
Learn the differences between single-trip and multi-trip travel insurance to make the best choice to help protect yourself when you’re away from home.
Updated 
9 min. read
Please note this article is intended for informational purposes. Travel insurance does not cover everything. For complete terms, conditions, limitations and exclusions, please refer to your plan documents.
Whether you travel for business or pleasure, exploring the world can be a rewarding experience. Maybe you’re embarking on a once-in-a-lifetime arctic cruise or planning a series of business trips throughout the year. Depending on the type and frequency of travel you’re doing, you may need to make a decision before you go: should you choose single-trip or multi-trip travel insurance?
So, what is travel insurance for one trip vs. multiple? For travellers, both plan types can include options for covering essentials such as emergency medical care, trip interruption, and baggage loss. The main difference lies in their scope: one is tailored for a single trip, while the other provides coverage for an entire year of travel. Both have their advantages, so stow your overhead luggage, fasten your seatbelt, and let’s take a look.
What is single-trip travel insurance?
Single-trip-travel insurance plans are designed for people planning a single trip away from home. Whether you're doing an out-of-province weekend getaway or a longer vacation abroad, this type of plan helps protect you from financial stress that can arise from unforeseen covered events while travelling.
You can choose between basic coverage, which often focuses on emergency medical care, and more comprehensive options that include protection for baggage loss, trip cancellations, and interruptions. The flexibility of these plans means you can pick what you need for your specific trip, allowing you to balance affordability with protection, depending on what is important to you.
That said, when buying a plan, you’ll want to double-check any limitations and exclusions it might come with, such as a maximum number of days, pre-existing medical conditions, or even coverage of extreme sports like scuba diving or bungee jumping.
What is multi-trip (annual) insurance?
Multi-trip insurance plans are annual travel insurance plans designed to cover multiple trips in a single year, making them an excellent choice for individuals who travel frequently. For example, if you’re an international sales professional, frequently visit family abroad, or simply love to explore different destinations, buying a multi-trip plan can offer savings compared to purchasing individual, single-trip plans for each journey—savings you can put into next year’s travel budget!
Depending on the plan you choose, your annual coverage will include things like emergency medical, trip cancellation, flight delays, and everything else you’d expect from a single-trip plan. Multi-trip plans also keep you covered for those last-minute trips.
What’s the difference between single-trip vs. multi-trip insurance?
The main difference between single-trip and multi-trip travel insurance plans is the number of trips covered.
Single-trip insurance covers one trip specified as the selected date in your application. Most travel insurance providers limit the number of days they will cover under a single-trip plan. This limit often aligns with the maximum trip length allowed by the Government Health Insurance Plan (GHIP) of your home province or territory, since private insurers typically require you to have valid provincial coverage in place while travelling. For example, British Columbia’s Medical Services Plan (MSP) covers residents for up to 212 days per year while they are outside of the province, so most private travel insurance providers cap their coverage at that same duration.
Note that single-trip insurance also covers travel to multiple destinations, provided you don’t return to your home province/territory in between.
Multi-trip insurance, also known as annual travel insurance, costs more upfront but is more cost-effective in the long run if you travel often over the course of a year. Most of these plans cover an unlimited number of trips in one year but have a maximum duration for each trip that depends on your chosen plan. If a trip ends up exceeding that duration, you can also purchase top-up insurance to extend your coverage period.
Choosing the right plan for your travel needs
With schedules, airports, and time zones to contend with, travel is complicated enough. The good news? A single-trip plan helps keep you protected for one specific journey, while a multi-trip plan ensures consistent coverage every time you travel throughout the year.
So, whether you’re at home setting a travel budget for the coming year or preparing for a spontaneous weekend trip, choosing the right plan is a personal choice that depends on your year ahead and how much you want to spend up-front. Here are some key things that you’ll want to think about:
→ How often do you travel?
Ask yourself: are you booking a one-off trip, like a destination wedding or annual sales conference? Or are you planning to make multiple trips over the year?
→ What type of travel coverage do you need?
Are you looking for medical-only coverage? Or do you also want coverage for trip cancellation, flight delay, and baggage loss? Single-trip and multi-trip plans offer a variety of options to choose from depending on your circumstances. Also, remember that if your trip ends up longer than your initial coverage, you can purchase top-up travel insurance before your original plan expires to extend your protection, but note that certain limitations apply.
→ Where are you travelling, and for how long?
While single-trip plans cover you for one trip, multi-trip plans cover you for multiple trips of varying lengths, depending on the level of plan you purchase.
BMO single-trip vs multi-trip travel insurance: Key differences
At BMO, we offer several plans for both single-trip and multi-trip travel insurance, so you can pick an option that best suits your travel plans.
Here’s a general overview of what you can expect between both types:
Criteria: | Single-Trip | Multi-Trip |
|---|---|---|
Value | Priced for one-time travellers | Cost-effective for frequent travellers |
What’s covered (Medical-only plans) | Up to $5 million for unexpected medical emergencies in a single trip Plans include coverage for:
| Up to $5 million for unexpected medical emergencies over multiple trips Plans include coverage for:
|
Premium options | BMO’s Single-Trip Premium Travel Plan includes coverage for:
| BMO’s Multi-Trip Premium Travel Plan includes coverage for:
|
Convenience | Single-trip protection provides coverage for up to 183 days (or 212 in certain provinces). You need to purchase a new plan for each trip. | A one-time purchase covers you for unlimited trips within one year, with length options of 4, 10, and 23 days per trip. Top-up coverage is also available. |
How to get BMO travel insurance
One of the great things about travel insurance plans is how easy they are to buy. Whether you opt for single-trip or multi-trip travel insurance, you can explore both options conveniently from your phone or laptop.
To get started, you can contact BMO in one of two ways:
- Get a quote online
- Speak to a BMO representative by phone at 1-800-661-9060
Ready to stay protected while you travel?
The right travel insurance plan for you comes down to how often you explore the world, and the type of coverage you’ll need as you do so.
In a nutshell, single-trip insurance is designed to help protect you for that one special journey, while multi-trip insurance keeps you covered for all your adventures throughout the year. Remember to plan ahead and consider your travel needs before making your decision.
Contact BMO today and find the plan that works for you to help keep you protected while you travel—whether it’s for one unforgettable journey, or a series of trips through the year.
Travel insurance plans FAQs
The cost of an annual or multi-trip travel insurance plan, like any travel insurance plan, varies based on a number of factors including age, trip duration, and whether you need coverage for additional circumstances like trip cancellation or baggage delays.
As a rule of thumb, if you travel more than once per year, an annual or multi-trip plan is more cost-effective than a single-trip plan.
Depending on the type of credit card you carry, your coverage will vary. Check your card’s benefits guide, your provider’s website, or call customer service on the back of your card to see what’s covered. It’s also important to keep in mind that not all credit cards offer travel insurance.
Most travel insurance plans don’t cover unstable pre-existing medical conditions, routine medical care, pregnancy within nine weeks of the expected due date, or childbirth. They typically also exclude certain high-risk activities like extreme sports, incidents involving drugs or alcohol, events related to war or civil unrest, and travel during a formal advisory issued by the Canadian government. You can find all limitations and exclusions in the Certificate of Insurance for the plan you purchase.
Once purchased, a single-trip insurance plan will only cover you for the duration of that particular trip. In order to get coverage for subsequent trips, you’ll need to purchase a new travel insurance plan.
Exceeding the duration limit of your trip can result in the suspension of your coverage for that specific trip. This means you may not be covered for events that take place after your plan’s limit has expired, such as medical emergencies or trip cancellations.
Yes, BMO's Multi-Trip Travel Medical and Premium Travel Plans have an age limit. To be eligible, you must be a resident of Canada, a BMO Financial Group customer, and age 75 or younger. If you are 60 years of age or older, you'll also need to complete a medical questionnaire before qualifying for coverage. The same is true for the Single-Trip Medical and Premium Plans, while the Single-Trip Trip Protection Plan has no age limit.
Travel smart with the right insurance
Prepare for your next trip with the right travel insurance plan and stay ahead of the unexpected.
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Footnotes
1 Where the professional services of a physiotherapist, chiropractor, osteopath, chiropodist or podiatrist are medically necessary, coverage will be provided to a maximum of $300 per insured person per discipline.